Covéa Insurance strikes a deal with LexisNexis for schemes management tool
30th October 2014
Leading UK insurer Covéa Insurance has implemented new schemes management technology from LexisNexis® Risk Solutions as a further example of its commitment to this growing business sector.
Transacting business in a way that makes life easy for brokers was high on the agenda for Covéa Insurance. Research by the company showed that by the end of 2013 over 80% of brokers were using bordereaux to transfer data; this investment will allow that data to be more efficiently transmitted.
In addition, the Broker Management module of LexisNexis® Map View provides the insurer and the broker with greater insights into the data, giving both parties a better understanding of how their scheme business is performing. The module enables flexible scheme management which will ultimately lead to more profitable growth for all involved.
Liam Casserley, Scheme Broker Manager, Covéa Insurance commented;
“With our schemes business growing rapidly, we wanted to ensure that we could report on performance in the same consistent way we report on our open market business. Our investment in this new technology reinforces our commitment to the schemes market. It’s essential that our brokers receive the best possible service from us; The Broker Management module of Map View enables us to enhance that service and support our scheme brokers with their growth at the same time.”
“The Broker Management module of Map View gives our customers like Covéa Insurance full visibility into their schemes business by providing a single console from where they can manage this side of their business,” said Bill McCarthy, Managing Director, UK, insurance, LexisNexis. ”It allows them to easily detect and respond to underwriting anomalies, and manage schemes rules dynamically – offering greater underwriting and operational control.”
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About Covéa Insurance
Covéa Insurance Plc is the UK underwriting business of leading French mutual insurance group Covéa (which includes the global reinsurer PartnerRe since July 2022).
Covéa Insurance looks after the insurance needs of UK customers, across a range of product lines; delivering financial reassurance through its Standard & Poor’s ‘AA- stable’ rating, as a guaranteed subsidiary of Covéa.
Covéa Insurance has a strong people and service ethos and holds ServiceMark accreditation with Distinction for its Personal Lines operation and its Commercial & HNW Claims teams, as well as Chartered Insurer status for its Commercial business. Covéa Insurance is signatory to the HM Treasury Women in Finance Charter and the insurance Inclusivity Pledge and has been named one of the top 75 employers in West Yorkshire & the Humber. In 2022 Covéa Insurance was named Insurer of the Year at the British Claims Awards and Personal Lines Insurer of the Year at the Insurance Times Awards.
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